Startup incubator IdeaWaveLabs backs First Moms Club

Singapore-based startup incubator IdeaWaveLabs said it has made three investments in India, including one in Mumbai-based startup First Moms ClubET Bureau | September 23, 2016, 08:48 IST

Singapore-based startup incubator IdeaWaveLabs said it has made three investments in India, including one in Mumbai-based startup First Moms Club, an online community of first time mothers, in which it has picked up a minority stake.

The amount invested in First Moms Club was undisclosed, but the Singapore incubator said it usually invests between $25,000 to $100,000.

The incubator has already made early stage investments in two Singapore-based companies, according to Chris George, country representative IdeaWaveLabs.

First Moms Club was started by Mumbai-based mother Ruchita Dar Shah as a Facebook page in 2010 and has today grown into a network of over 50,000 mothers across 45 countries.

Shah also launched a mobile app for First Moms Club earlier this year. The startup sees revenue growing through its brand associations with corporates looking to target the young mothers' segment. Shah said the funding will be used in developing the platform and the app, as well as in creating a new P2P shopping tab for the women members on the app.

George said apart from funding, it will also act as a co-builder for the startup.